Sports retailer celebrates record profits
12th September 2017
Sports fashion retailer JD Sports saw a big rise in sales in the first half of the year.
Sales were up 41 per cent to £1,367.2 million compared to the same time last year.
Profit before tax was a record £102.7 million, an increase of 33 per cent.
JD Sports executive chairman Peter Cowgill said: "This is another pleasing result demonstrating the strength of our highly differentiated multichannel proposition and our ability to prosper in an increasingly competitive market for athletic inspired footwear and apparel.
"The base of our ongoing excellent multichannel retail performance comes from the continued strength of our core UK and Ireland Sports Fashion fascias.
"We have strengthened our foundations by significant progression internationally both instore and online so that the JD fascia now has a much broader store and multichannel consumer reach and brand influence globally.
"We expect the year end outturn to be towards the upper end of market expectations, which currently range from approximately £268 million to £290 million, and remain confident that we are appropriately positioned to deliver further profitable growth and enhance long term shareholder value."
Meanwhile discount clothing store chain Primark said sales for the full year are expected to be 13 per cent ahead of last year, driven by increased retail selling space.
After a good first half, third quarter trading was particularly strong in the lead up to Easter, benefiting from comparison with prior year results that were affected by poor weather and an earlier Easter holiday.
Picture: Pixabay
Related Articles
Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.